A Quote by Greg Ip

Back in the '60s, for example, just as inflation was beginning to be a big problem, Presidents J.F.Kennedy and Lyndon Johnson would often publicly browbeat companies for raising prices and threatening to move federal defense purchases to different countries.
Sometimes clients have a sophisticated view of their design problem, sometimes they do not. I often spend time with the client redefining the problem, going back to the beginning. Often the problem is just a symptom. Sometimes you have to move back in order to move forward to understand what the nature of the solution should be.
Now in my view, if you were to line up the Presidents in the order of who made the greatest accomplishments, you'd put Lyndon Johnson in that arena with both Roosevelts probably, and [Abraham] Lincoln and so on. But the idea that Lyndon Johnson was operating as a free agent and coming up with these ideas on his own is nonsense.
Anyway, in 1966, Daddy had started to attack Lyndon Johnson on the war in Vietnam. Lyndon Johnson was a good man. Even though he was a Southern conservative, Lyndon Johnson passed more civil-rights legislation than any other president in history.
I would be uncomfortable raising the federal funds rate if readings on wage growth, core consumer prices, and other indicators of underlying inflation pressures were to weaken, if market-based measures of inflation compensation were to fall appreciably further, or if survey-based measures were to begin to decline noticeably.
Quite often the federal government purchases things at prices higher than individuals in the private marketplace.
There is no such thing as agflation. Rising commodity prices, or increases in any prices, do not cause inflation. Inflation is what causes prices to rise. Of course, in market economies, prices for individual goods and services rise and fall based on changes in supply and demand, but it is only through inflation that prices rise in aggregate.
It's Kennedy's war, Vietnam. Lyndon Johnson got all the flak, but it's Kennedy's war.
There are areas using what's called the "checkerboard strategy." They are different cities where you can move around the "checkerboard," doing things you can't do in every square, that you can do in some of them, building a mosaic of these kinds of practices. There are about 400 cable television networks, for example, that are publicly owned. That's a big fight for big private companies. In some areas, this is a political struggle, in some it's conventional common sense.
Three American presidents-Dwight D. Eisenhower, John F. Kennedy, and Lyndon B. Johnson-have asked the question: What do we get from aiding Pakistan? Five-Jimmy Carter, George H. W. Bush, Bill Clinton, George W. Bush, and Barack Obama-have wondered aloud whether Pakistan's leaders can be trusted to keep their word.
Because food and energy prices are volatile, it is often helpful to look at inflation excluding those two categories - known as core inflation - which is typically a better indicator of future overall inflation than recent readings of headline inflation.
Bobby Kennedy's conduct toward Lyndon Johnson was childish and despicable. As the years went on, he displayed nasty, self-pitying, and messianic qualities that would have made him a dangerously authoritarian president.
Throughout American history, we have elected presidents who had not been honest man. Warren Harding, Richard Nixon, to some extent, Lyndon Johnson just to name a few.
Models used to describe and predict inflation commonly distinguish between changes in food and energy prices - which enter into total inflation - and movements in the prices of other goods and services - that is, core inflation.
I wasn't part of John Kennedy's vision of the world, or Lyndon Johnson's. I thought of them as anti-Communist imperial monsters.
Back in the '40's, Lyndon Johnson could still steal a Senate election in South Texas with the help of the big patrons.
You could raise the price of, say, a bottle of ketchup to $1.03 instead of $1, and no one would know. Raising prices just 3% per product would add 50% to your pretax income. Why not do it? It's like heroin: You do a little and you want a little bit more. Raising prices is the easy way.
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